Commodity expert sounds recession alarms on Bitcoin/Gold ratio
Bitcoin (BTC) has lagged behind Gold since the leading cryptocurrency’s all-time high in 2021. The Bitcoin/Gold ratio now faces important resistance against the stock market and two possible outcomes surge for BTC. In particular, Bloomberg ’s commodity expert Mike McGlone analyzes the current economic scenario and leans toward a recession . McGlone posted his Analysis on X (formerly Twitter) on January 23, warning of trickle-down risks moving forward. The commodity expert explained Bitcoin surged in a favorable scenario of zero-interest rate policies (ZIRP) after a financial crisis. However, the cryptocurrency started to lag behind Gold when interest rates rose. Stocks Was it better to buy gold bars at Costco or COST stock? Cryptocurrency Brace for strong BTC correction; Here’s why Cryptocurrency Cryptocurrencies set to reach $100 in 2024 Cryptocurrency Short squeeze alert for this week: Two cryptoc...